Swing with $IBIO

Decided to enter a momo swing with $IBIO after liking what I saw on their chart and today's gainer ranking on Yahoo Finance. My first trade was stopped out by my 5% trailing stop but I decided to stick with my swing plan and re-entered when the price continued to consolidate.

Profit target is 10% to 20%

Daily Chart and entries

5 Day Chart w/ Upward Trend

 

 

 

 

 

 

1 Month Chart w/ Upward Trend

3 Month Chart w/ Upward Trend

Dropped a Bag and Got a Win with $VALE

Man it really feels good to start posting on this blog again. I know it has only been a couple of weeks or so since I began to focus on my business launch... but it sure seems longer.

I'll start with my trade updates. If you take a look at the Profit.ly app on the side of the blog you'll see that I closed two trades today. 

$NTN with a loss and while it looks small it was actually a pretty big bag to hold for my E-Trade account which now sits at $54 in capital. It was a pretty simple rookie mistake and poor risk management on my part. I entered the trade with a plan to ride a bump after earnings. That didn't happen and instead of cutting losses quickly I held for the news and let the loss get bigger. I will say that I played the exit pretty good and took advantage of a close at the EOD order. The no emotion of it helped. I'm not sure what I'm going to do with the E-Trade account at this point. I may add funds or continue to trade small with it.

My $VALE swing closed with a nice percent gain today. On the technical side it was a well executed trade and my 10%+ momo plan worked. I was even able to control the exit and almost hit the HOD. But with all that said it wasn't a money making trade since it was only a 10 share position. I knew this going in and already accepted the heavy commission slippage that came with the trade.

$VALE Swing Momo 04-23 to 04-24

Honestly it was more of a moral booster for me after the $NTN loss and the larger... more embarrassing baggage that is $BRWC, which is currently -$200ish and basically cutting my Sharebuilder account in half.

The crazy thing about $BRWC is that I still feel that I should hold it. I'm not sure if the PR is complete BS or if the company actually has the potential to bounce of the 52 wk low and hit my target price of $0.0025. Currently this turd is sitting at $0.0006 and has done a little bouncing to $0.0009 and back for gains that read 50% or so. I think by the end of next week I will have a better idea of what to do with it.

Probably the two biggest mistakes with this one is holding and not sticking to my trade plan and using my Sharebuilder account to make the trade. The commissions and fees raped me haha.

Looking Forward

I just opened an account with TD Ameritrade and I will be focusing on options and mini options. Most like only 4 options $AAPL, $GOOG, $BP, and $GPRO. The more I study trading and options I keep seeing two constants... Risk management and focus on a small collection of stocks.

Pennies are exciting and I still may trade momo plays on occasion, but I've found that it is difficult to find a shiny penny without risking following someone else, and that opens me to greater risks.

So stay tuned.

I'm Still Here!!! Just Busy :)

I apologize for taking a while to post. I've been busy with family obligations and spending time launching my business Blurbeo.

Here's what I've got going on:

$BRWC is a loosing trade that I should be getting out of. I went against my rules again and will likely be cutting my loses tomorrow.

$NTN is also a loosing trade and I went against my rules here too!

Basically I've found that the psychology behind trading is a very real thing and something that I need to work on.

That said, I'm making a big move. Starting next week I will be taking a break from pennies and will be focusing on options and mini options.

So stay tuned...

Oh yeah, entered a mom play today with $VALE

Update: Red Tide!!!

It would seem that I'm getting caught red handed lately. $NTN has refused to stop bouncing around the $0.41 to $0.43 range and I'm left with the decision of holding for a possible bounce play or sell and take losses.

 

The latest play is also in the red, $BRWC, though I have to admit I'm holding because it continues to look like a promising trade with the potential to have a significant bounce. News was out today showing the company having sales up 12%, profits up 3%, and operations losses down 30%. As the pr sinks in, there's a chance that that it will cause the stock to bounce off of the bottom. Only time will tell, will I get to take profits? or be left holding the bags?

Monday's Ups and Downs / $NTN and $CJTF

Monday for my position in $NTN stayed in the red for most of the day and only pulled into the green at the EOD at $0.5464 @ 3.09%. Continuing to hold this to see what it does as we get closer to the earnings report on the 26th.

I had made a pretty large watch list on Sunday night but wasn't crazy with how they were moving. Shortly after the morning push I spotted an alert on $CJTF having positive news out on the OTCmarket news area. Basically, the company won a court case and are being awarded a $12.5 million note receivable. A nice chunk of change into the company's coffers for sure.

Momentum was there at the time and it looks like I'm still in before any real push from the news, especially since it hasn't hit more mainstream outlets like Yahoo Finance or Market Watch. I went long with 200,000 shares @ $0.0020 a share. As Murphy's Law would have it, the price climbed to the HOD of $0.0024 a share then dipped to $0.0015. It stayed pretty level untill the EOD push and I saw it start to uptick for an EOD call of $0.0017 @ 30.77%. I'm still in the red on this play and will hold into the morning as a swing. Hopefully news makes the rounds tonight and I see a gap up in the AM or a nice spike that I can sell into. Otherwise I may just be taking it in the ass again and forking over my cash!

$NTN Stayed Red & The Diagram Experiment

$NTN Opened red and stayed that way for the day ending with $0.555 -4.31%. On a good note, it continued to bounce around in the consolidation zone of .54 to .56, so at this time I'm not too worried about today's redness. Next week is the earnings week for $NTN with the report due on the 26th. My guess regarding any possible promotions (if one starts) will be Sunday night to early Monday and continuing till Thursday, maybe a dump on Friday or Monday the 30th.

I'm not an expert and have no knowledge of a pending promo campaign, just a gut feeling.

I've also put together a Trading Day Diagram that breaks down the key points of the trading day. I'm planning on going over my trades and marking down the entries and exits. It will I'm curious if there is a pattern regarding when I entered and exited vs wining and loosing. I'll post the results just for fun.

Here's the diagram

$NTN Pops @ EOD to .58: Continuation of Incline

There was a slight gap down this morning for my small position with $NTN. I watched as it climbed back up to the previous closing price and then went sideways. Seems like a lot of stocks follow the pattern of a pop or spike during the power hour... aka closing period.

Thought I'd share the chart.